DUBLIN--(BUSINESS WIRE)--The "Blockchain-as-a-Service Market by Component (Tools and Services), Business Application (Supply Chain Management, Smart Contracts, Identity Management, Payments, and GRC Management), Organization Size, Industry, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The report forecasts the global BaaS market to grow from USD 623.0 million in 2018 to USD 15,455.0 million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast period.
The BaaS market has grown rapidly, due to the need to lower risks, complexities, and increase efficiency along with the low cost of bandwidth, data storage, and computing. These factors are expected to drive the adoption of the blockchain technology. However, uncertain regulatory and compliance environment is expected to limit the market growth.
The supply chain management segment is estimated to hold the largest market share in 2018. By leveraging the benefits of BaaS offerings, organizations drive their supply chain processes with better resource allocation, maximized productivity, and reduced costs.
The manufacturing industry is expected to grow at the highest CAGR during the forecast period, as BaaS offerings ease various manufacturing processes by maintaining and aggregating records, which help boost the efficiency by ensuring proper utilization of workforce.
North America is estimated to have the largest market size in 2018 followed by Europe, owing to technology developments in this region. North America is an early adopter of technology trends. Being a hub for innovations, combined with its developed capital markets and financial setup, North America presents strong opportunities for BaaS vendors to expand their presence locally. The adoption of BaaS offerings is expected to increase in APAC and Latin America. Globalization and the developing economies in these regions are expected to drive the adoption of BaaS tools and services.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Market By Component
7 Blockchain as a Service Market, By Business Application
8 Market By Organization Size
9 Blockchain as a Service Market, By Industry
10 Blockchain-as-a-Service Market, By Region
11 Competitive Landscape
12 Company Profiles
- NTT Data
- Waves Platform
- To the New
- L&T Infotech
For more information about this report visit https://www.researchandmarkets.com/research/d5rv4f/global?w=4